Good time (HSY.US) Chocolate Empire suffers from tariffs + double-hit cocoa costs, warns that annual profits may fall by 38%.
Zhito Financial App has learned that the global top chocolate brand Hershey's (HSY.US) has lowered its annual profit expectations due to the continued high prices of cocoa, a core ingredient, and President Trump's global tariff policies. The snack giant, which created the world's largest chocolate empire, now expects annual tariff costs to reach $170 to $180 million. During a performance conference call with analysts, the company's management stated that this cost is still lower than previously anticipated.
Latest